In a decisive shift from Wall Street’s glare to private ownership, kennedy wilson go private in a $1.5 billion transaction led by its own chief executive and a major Canadian investor.
The real estate investment firm announced Tuesday that it will be acquired by a consortium spearheaded by CEO William McMorrow and Fairfax Financial Holdings Ltd.. The buyer group will purchase all remaining outstanding shares for $10.90 apiece in cash.
The offer sweetens a prior $10.25 proposal made in November and represents a 10.2% premium over the company’s last closing price. Shares of Kennedy-Wilson surged 10.1% in premarket trading to $10.90, reflecting investor alignment with the revised bid.
Premium Price, Private Ambitions
When the consortium first floated the privatization plan in November, it argued that operating outside public markets would ease the cost and regulatory strain of maintaining a stock listing. Freed from quarterly earnings pressures, management could focus squarely on long-term strategy, the group said.
The transaction marks a strategic pivot for Kennedy-Wilson, which has long navigated the public markets while investing in global real estate assets. By stepping off the exchange, the company aims to recalibrate its compass away from short-term scrutiny and toward sustained portfolio growth.
